Lights, camera, action: Hoyts Cronulla hits the market for $30 million
Fancy snapping up a cinema just a stone’s throw from one of Sydney’s best beaches?
Well, Hoyts Cronulla has hit the market with price expectations of $30 million.
On a 1043-square-meter landholding across three titles Zoned E2 commercial centre, the asset is being sold by Colliers’ Trent Gallagher and Edward McFarland.
The prominent corner site benefits from exceptional street frontage, strong pedestrian catchment and proximity to Cronulla station and Beach. It’s anchored by a 16-year lease to Hoyts with options to 2047.
“This is a once-in-a-generation opportunity to secure one of Cronulla’s most iconic commercial assets,” says McFarland, Colliers’ national director, industrial and logistics.
“Anchored by Hoyts and supported by a strong mix of specialty tenants, the asset offers solid fundamentals and future growth potential, making it highly attractive to funds, private wealth groups and specialist retail investors.”
The 2644-square-metre property is fully occupied and currently generates a net passing income of $1,559,798 a year with an assessed net market income of $1,918,250 a year and a WALE by income of 7.44 years.
The precinct is set for a significant amenity uplift with the Vue Cronulla development introducing Harris Farm Markets and additional premium retail in 2026.
“This fully leased investment offers long-term stability in a prime coastal location,” says Gallagher, Colliers’ national director, industrial and logistics.
“We expect a broad mix of domestic and offshore capital to participate, resulting in a highly competitive [expressions of interest] process with robust bidder engagement following inspections.”
The building opened in 1928 as the Cronulla Theatre and has been progressively upgraded over the years, including a $6 million refurbishment by Hoyts in 2020.
The property at 2-6 Cronulla Street, Cronulla, is being offered for sale through an expressions-of-interest campaign closing at 3pm AEDT on Tuesday, November 11.
